CPI doesn't categorically understate inflation, sometimes it shoots high, sometimes low. This is understandable, as turning something as complicated as inflatio

CPI doesn't categorically understate inflation, sometimes it shoots high, sometimes low. This is understandable, as turning something as complicated as inflation over all the goods and services bough in a country into a single number cannot exactly be simple. Lately, the index has arguably been understating inflation a little because the cost of living is going down, which pulls the index on the whole down even if the price of most of the essentials on it are going up. Then again, this can simply be considered wad -- cost of living is a very major household expense, even if most people who already own a house don't see the cost reductions on their balance sheet.